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  • Riyadh Gunman who Killed an American Co-Worker and was Born in the US Identified as Abdulaziz bin Fahd Al-Rasheed
     

    An American was shot and killed in a car in Riyadh today by a 25 year-old Saudi citizen named Abdulaziz bin Fahd Al-Rasheed who was born in the United States, the official Saudi Press Agency reports. The two were employed by Vinnell Company contracting with the Ministry of the National Guard, the SPA has said, […]

     
  • Saudi Arabia in the Air
     

    A stunning collection of photos from Saudi Arabia’s Press Agency, the SPA, showed Saudi Arabia’s helicopters and some shots of the Kingdom from above. [Click here to view a slideshow of Saudi helicopters and aerial shots of the Kingdom from above]

     
  • Google on a Camel
     

    Google’s Street View has provided 360-degree views of locations around the globe since 2007.   Street View cameras have been deployed on boats, underwater and now, Raffia, a 10-year old camel. Writing for The National, Lindsay Carroll reports on Raffia’s walk in the desert around the Liwa Oasis carrying a specialized camera. The Liwa Desert […]

     
  • Saudi Aramco: Not Your Ordinary NOC
     

    Last month Saudi Aramco opened a 50,000 square foot, state-of-the-art research center in Houston that Saudi Aramco President and CEO, Khalid Al-Falih called, “an upstream research center like no other.”  It will be an extension of Saudi Aramco’s Exploration and Petroleum Engineering Center’s Advanced Research Center (EXPEC ARC) and it’s Research and Development Center both […]

     
  • Central bank’s record reserves ‘show strength of Saudi economy’
     

    The Saudi Arabian Monetary Agency (SAMA)’s reserve assets soared to another historic level in August, official data show, to over $757.3 billion. The jump in August, an increase of $10.4 billion, shows the strength of the Saudi economy, Asharq Alawsat reports, citing economist Abdulaziz Al-Fahad. Asharq Alawsat: “SAMA itself attributed the rise in reserves to […]

     
  • Lockheed, Raytheon Sell ‘Worlds Most Advanced’ Patriot Missile System to Saudi Arabia for $1.7b
     

    U.S. defense contractors Lockheed Martin and Raytheon are the lead contractors in the proposed $1.7b sale of the Patriot Advanced Capability-3 (PAC-3) Missile system to Saudi Arabia, following a request for approval by the Pentagon.  The development is the latest in recent weeks indicating a strengthening of U.S.-Saudi ties as the two countries coordinate security efforts to counter […]

     
  • Why MNCs Must Localize their Saudi Business
     

    Saudi Arabia is one of Europe, Middle East and Africa’s (EMEA) top emerging markets, but it is on an unsustainable growth path that threatens long-term prosperity. In addressing this problem through economic diversification, the government will increasingly push multi-national corporations (MNC) to localize their presence or risk being shut out of the market. Success for […]

     
  • In First Weekly for Ashmore, Sfakianakis Highlights ‘Wall Street’s Retreat from EM Market-Making’
     

    In his first weekly for the London-based Ashmore Investments, John Sfakianakis and co-author Jan Dehn write that emerging markets are playing a larger role in international finance, and recent political and economic developments around the globe “illustrate Wall Street’s decline as market-maker for Emerging Markets (EM) assets.”   The full analysis, available here and used by […]

     
  • Saudi Arabia’s Energy Pivot to Asia ‘May Result in Lower Crude Prices’, Analyst Predicts
     

    Saudi Arabia is starting to focus more on Asian destinations for its crude, which may result in lower costs to the region, writes Clyde Russell in a Reuters analysis. “The Saudis aren’t exactly retreating from the North American and European markets, but they seem to have read in the tea leaves the trend that physical […]

     
  • John Sfakianakis Hired by London-Based Ashmore Group PLC to Lead Middle East Expansion – Report
     

    Bloomberg’s Matthew Martin reports that veteran banker John Sfakianakis has been hired by UK-based Ashmore Group PLC to head expansion into the Kingdom ahead of Saudi Arabia’s market opening. According to the report, citing unnamed sources, Sfakianakis will be director for the GCC for Ashmore. Sfakianakis is a frequent contributor to SUSTG.com. 

     

MUST-READS

  • Saudi Arabia continues Hajj 2024 preparations as pilgrims arrive

    Sheikh Aima Diakite, president of the Superior Council of Imams of Mosques and Islamic Affairs in Ivory Coast, praised the services and facilities provided by the Makkah Route Initiative. Diakite said the program has enabled pilgrims to perform Hajj rituals easily and comfortably. The Makkah Route Initiative has developed procedures for Ivorian and other pilgrims and worked on overcoming difficulties and obstacles to alleviate the hardship of Hajj, Diakite told the Saudi Press Agency.

  • Cristiano Ronaldo in tears after losing King’s Cup final in penalty shootout

    Cristiano Ronaldo was left sobbing on the pitch after Al-Nassr lost the Saudi King’s Cup final in a penalty shootout to rival Al-Hilal on Friday.

    The agonizing defeat, after the penalty shootout finished 5-4, meant that Al-Nassr finished the season without a trophy, while Al-Hilal triumphed in three competitions – the Roshn Saudi League, the Saudi Super Cup and the Saudi King’s Cup

  • Saudi startups take lead in MENA funding space

    Saudi Arabia’s startup ecosystem has affirmed its leading position in the funding space, capturing over 53 percent of the region’s venture debt financing in 2023, according to MAGNiTT’s latest report. The venture data platform revealed that Saudi startups raised a total of $400 million in venture debt last year, a 602 percent growth compared to $57 million in 2022.

  • Saudi Arabia is trying to build the largest linear city ever. It’s a visionary but flawed concept, urban planners say.

    The Spanish architect Arturo Soria is widely credited with designing the first linear city, "La Ciudad Lineal," in 1882 on the outskirts of Madrid. Around forty years later, in 1924, renowned Swiss-French architect Le Corbusier offered another radical alternative with his "Ville Radieuse," a linear, ordered metropolis full of green space.

  • Saudi FM Discusses Gaza Truce Proposal with US Counterpart

    Saudi Foreign Minister Prince Faisal bin Farhan discussed in a telephone conversation on Saturday with his US counterpart, Antony Blinken, the Gaza truce proposal announced by President Joe Biden a day earlier. The Saudi minister expressed during the call the Kingdom’s support for all efforts aimed at an immediate ceasefire, the complete withdrawal of Israeli occupation forces, the urgent entry of humanitarian aid to civilians affected by the Israeli offensive, and the safe return of displaced persons to their homes. Farhan emphasized the need to seriously address any proposal that achieves a permanent ceasefire and ends the suffering of the Palestinian people in Gaza

  • Saudi Arabia provides $129 billion in aid to 169 countries since 1996

     Saudi Arabia has provided over $129 billion in aid to 169 countries worldwide since 1996, the Supervisor General of the King Salman Humanitarian Aid and Relief Center (KSrelief) Dr. Abdullah Al Rabeeah said. Al Rabeeah, emphasized that Saudi Arabia, through KSrelief, is actively involved in removing unexploded ordnance as part of its humanitarian efforts. These efforts aim to improve the environment, protect civilians, particularly women and children, build capabilities, provide a safe environment, preserve public health, and reduce the dangerous effects of explosives on individuals and society.

  • Hezbollah downs Israeli drone over Lebanon with missile

    An Israeli pilotless plane was shot down over Lebanese territory by a surface-to-air missile on Saturday, Israel's military said, and Hezbollah claimed responsibility for the interception.
    In a statement, Hezbollah said it downed a Hermes 900 drone in solidarity with Gaza, where Israel has been waging an almost eight-month-old war against Hamas, another Iranian-backed group.
    Video circulated online appeared to show a plane of a size corresponding to that of a Hermes, aflame and gyring earthward.

  • Blinken discusses Israel’s Gaza ceasefire proposal with Middle East counterparts

    US Secretary of State Antony Blinken has discussed a three-phase Israeli proposal for a ceasefire in Gaza in a series of phone calls with his UAE, Saudi, Jordanian and Turkish counterparts.

    Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, said the ceasefire deal announced by US President Joe Biden on Friday should be treated seriously and positively, Wam reported on Saturday.

    In a phone call with Mr Blinken on Saturday, Saudi Foreign Minister Prince Faisal bin Farhan emphasised the kingdom’s support for immediate ceasefire efforts in Gaza, as well as a complete Israeli withdrawal from the strip.

    Israel's proposal for a ceasefire, in return for the release of Israeli hostages, was announced by US President Joe Biden at the White House on Friday.

  • Esports World Cup CEO: Saudi Arabia the perfect place for our first global event

    The Esports World Cup, set to take place in Riyadh, will feature a diverse line-up of games, including Street Fighter, Overwatch and League of Legends. With a prize pool of $60 million, it is expected to attract top talent from across the globe. The event will also feature a festival of gaming and esports activities, alongside conferences and side tournaments.

  • WRC Signs 10-Year Deal to Host Saudi Arabia Round

    Confirmation of a 10-year deal with Saudi Arabia was announced at this weekend’s Rally Sardinia, which has been attended by HRH Prince Khalid Bin Sultan Al Abdullah Al-Faisal, Chairman of the Saudi Automobile and Motorcycle Federation and the Saudi Motorsport Company. Rally Saudi Arabia is set to host the final round of next year’s expected 14-event championship in November and could be set to hold that berth for the next five years at least. The rally will be held around Jeddah with stages featuring a mixture of mountain and desert roads. A test event is likely to be held early next year as part of the Middle East Rally Championship.